Legal & General delays business license and cuts workforce in China - report [Seeking Alpha]
LEGAL&GENL GRP PLC S/ADR (LGGNY)
NASDAQ:AMEX Investor Relations:
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Source: Seeking Alpha
The remaining staff in China will focus on existing institutional clients, as per sources that confirmed this with Reuters but declined to be named. The insurer was keen on getting a Qualified Domestic Limited Partner license to sell offshore products in China. However, the company is still looking forward to growing existing client investments in international markets. Commenting on China, Legal & General said that it remained "an important and large market opportunity for asset management over the long term" in the report The stock price moved marginally higher by 0.56% on Friday during pre-market hours of trading. Recommended For You More Trending News Recommended For You More Trending News About LGGNY Stock Related Stocks Trending Analysis Trending News
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